A prominent cryptocurrency exchange, Grinex, has temporarily suspended its services after falling victim to a sophisticated cyber attack that resulted in the theft of approximately $13 million. The exchange, which has been a popular platform for Russian users seeking to circumvent sanctions, announced the breach on its official Telegram channel and website.
According to Grinex, the nature and scope of the attack suggest the involvement of state-sponsored actors from hostile nations. In a statement, Grinex noted that the 'digital fingerprints' and methodology of the attack imply an unprecedented level of technological expertise and resources, typically reserved for state-backed entities.
Preliminary findings indicate that the attack was orchestrated to directly undermine Russia's financial autonomy. Grinex, formerly known as Garantex, was sanctioned by the US, UK, and EU last year for allegedly enabling users to bypass restrictions through a ruble-pegged stablecoin called A7A5. This token facilitated cross-border transactions after Russia's access to the Swift international banking network was severed following its invasion of Ukraine.
After being shut down, the platform reemerged as Grinex. As a result of the temporary trading halt, users are currently unable to access their funds while the company conducts an investigation.
Additionally, access to Grinex's Moscow office has been restricted. The exchange has published a list of 54 affected wallets, along with the corresponding amounts stolen, with the majority of the losses occurring in USDT on the TRON blockchain.